Selecting Winning New Product Projects: Using the NewProd System

Separating probable winners from probable losers is the goal of the new product screening task, and Professor Robert G. Cooper has developed a model that does this with remarkable success. In this article, he reviews various approaches to new product screening and then presents the basics of the NewProd model. NewProd now has a history of use in industry that seems to be fulfilling its original research promise. Professor Cooper shows how managers can build their own screening models and outlines how such models can contribute in an important way to better new product selection decisions. Over the years, Professor Cooper has conducted a series of major research projects that have aimed at improvements in the new product process. Their hallmark has been managerial relevance and a sound theoretical foundation. This article, the third that Professor Cooper has published in JPIM , is in the same tradition.     

A Smooth Ride? From Industrial to Creative Urbanism in Oshawa,Ontario

In mainstream media, policy circles and academic scholarship, economic discourses have highlighted the importance of knowledge, creativity and innovation for generating economic growth. This has been translated into an urban planning and policy agenda which favours the establishment of research parks, innovation clusters, and especially universities along with amenities to attract creative‐class workers. In much of this literature universities are invested with an almost magical power to spur economic growth, and the benign language of ‘transition’ is used suggesting a rather seamless progression from one urban economic engine to another. Through analysis of policy documents and key informant interviews related to the establishment of a new university in Oshawa, Ontario, this case study seeks to challenge the straightforward relationship that is assumed to exist between universities and local economic development. Like other lagging regions across the OECD attempting to repair their economies through creative and knowledge urbanism, Oshawa's recent achievements are tempered by growing concerns about poverty, homelessness and inequality. Planners and policymakers that mistake the complexities of economic restructuring for a smooth ‘urban transition’ put their cities and citizens at risk of creating new problems out of efforts to improve local conditions.     

Tourism Education in Canada

SUMMARY

This paper explores the past, present, and future directions of tourism education in Canada, from its origins in the late 1960s until today. The study reviews the development of tourism education over four decades, with a particular focus on developments in Ontario. The influence of tourism organizations, and the impact of legislation on tourism and hospitality education in developing future industry leaders capable of sustaining and growing Canada's tourism industry are discussed. The paper also reflects on the current status of tourism education in Canada, the lack of government support for tourism research initiatives, and the loss of research talent to overseas universities. The research discovered a paucity of past historical documentation of tourism education in Canada and this paper is perhaps the first concerted effort to chronicle the 40-year cumulative history of formal tourism education in Canada.     

Industrial firms' new product strategies

This research examines the impact of the firm's product innovation strategy on performance results. A total of 19 strategy dimensions were uncovered, which capture the specific elements of firms innovation strategies. Three dimensions of performance, independent of each other, were also identified and were found to be closely linked to the strategy adopted. For a high-impact new product program, an aggressive strategy emphasizing sophisticated technologies, heavy R&D spending, and a focused program was found appropriate. In contrast, a conservative strategy featuring avoidance of new markets and new product classes and a close synergy with the firm's technological resources resulted in a high success rate program. Finally, a high overall performance was the outcome of a balanced strategy: technologically aggressive, market oriented, and synergistic.     

The efficiency of certain speculative markets and gambler behavior

This paper tests the efficiency of the football betting market and develops a model of the determinants of the closing spread. The empirical results suggest that the football betting market is not perfectly efficient. The evidence also suggests that, contrary to previous studies, gamblers that do bet the long shots are acting as rational individuals attempting to maximize their return for a given level of risk. Finally, at least six variables were found to be statistically significant factors in determining closing spreads in the football betting market.     

Evaluating guilt arousing marketing communications

An empirical investigation was conducted to evaluate the impact of guilt arousing marketing communications. The results indicated that guilt as a distinct emotion can be aroused to the extent of changing message specific attitudes. However, it was not possible to change either global attitudes or behavioral intentions. One reason for the failure of guilt arousing marketing communications to affect global attitudes and behavioral intentions may be due to counterarguing on the part of message recipients.     

The Technology Innovation System in Japan

In recent years, many pieces of the Japanese puzzle have been identified and described as lessons for Western businessmen to learn. But the pieces are part of an interlocking system and to understand the role of each piece, it's necessary to see the whole. In the Japanese technology innovation system there are many parts—companies, universities, research institutes, government—and the way they are put together is the subject of this article by Joseph MacDowall. He points out some very unique characteristics about the way the system works. But he also points out some characteristics that are very much Western in origin. This article is based on the personal observations of the author, made during in-depth discussions he held during site visits to over 20 industrial plants or to their research and development laboratories, 25 government research institutes, and at least eight Japanese universities. During the four years he lived in Japan, Mr. MacDowall participated in discussions on the subjects of research, technology, work life, and Japanese culture.     

Optimal portfolio composition and the CAPM

It is commonly assumed that the CAPM implies that all investors hold a balanced portfolio, “the market portfolio,” and investors just determine the proportion of their wealth held in the market portfolio and the risk-free asset. That this is patently at odds with observed investor behavior is sometimes used to justify rejecting the CAPM. However, by assuming that substitute securities exist, in this paper we still obtain the CAPM, although investors neither hold all of the assets in the market nor a balanced shareholding in the assets they do hold.     

Water quality and cottage prices in Ontario

We use hedonic analysis to show that water clarity has a significant effect on lakefront property values in the Near North Ontario, Canada. In this study, water clarity is measured by Secchi disc reading. Based on two different dependent variables; sales price and sales price per square foot, and the estimation of linear, log–linear and log–log models, we find that water clarity does matter to lakefront property buyers in the Near North, Ontario. In particular, our results indicate that buyers are willing to pay about 2% more for each 1-foot increase in water clarity or Secchi depth. This finding is consistent across all of our specifications.     

Economic impacts of highway infrastructure improvements part 2. The operational model and its application to Ontario communities

The environmental assessment process in Ontario requires an assessment of the economic impacts of highway infrastructure improvements. This paper describes an operational model that is based on the analytical framework introduced in Kanaroglou et al (1997). The model makes use of widely available data and can be used as a planning tool for fast and efficient assessment of short term direct and indirect local economic impacts in terms of a community's sectoral employment levels. The accuracy of the assessment can be improved by modifying the model parameters using information collected locally. The model can presently be applied to communities in Ontario.